Media coverage

8 MAY 2014

CoAL receives R15m insurance claim following 2013 force majeure

Source: www.miningweekly.com
Author: Natalie Greve

Following the declaration of a force majeure by Coal of Africa Limited (CoAL) subsidiaries the Limpopo Coal Company, Langcarel and NuCoal Mining last year, the company has negotiated a business interruption claim for the affected time period and has received a settlement amount of R15.96-million.

On February 28 last year, CoAL announced that it had been advised by Transnet Freight Rail of a derailment of ten wagons on the Maputo rail corridor between Tenga and Matola Gare, in Mozambique, which led to all rail traffic between Komatipoort, in South Africa, and Maputo, in Mozambique, being suspended for a period of seven weeks.

This prevented the coal group from delivering product to its offtake partners.

Soon thereafter, CoAL’s subsidiaries issued force majeure notices to their customers, contractors and other affected stakeholders.